Alpha hires Stena Spey for work at Cheviot

Stena Spey

Alpha Petroleum has hired the Stena Spey semisubmersible rig for work at one of the largest undeveloped fields in the UK North Sea.

It is understood the rig, owned by Aberdeen-headquartered Stena Drilling, will be on a 480-day contract.

The work is expected to begin in March next year.

London-headquartered Alpha, which is backed by private-equity firm Petroleum Equity, owns 100% of Cheviot.

The field is expected to come on stream in the second quarter of 2021 and produce at least 30,000 barrels per day.

Alpha previously announced that Baker Hughes, a GE company would partner with the firm on the advancement of the subsea infrastructure and integrated drilling services for Cheviot.

The development programme will consist of at least 18 wells and includes one production well established in the Peel satellite reservoir.

Stena Spey is currently warm-stacked in Norway.

In October, Sembcorp was picked for a £125m revamp job for Teekay Offshore’s Petrojarl Varg FPSO which will serve Cheviot.